Graco Inc. $GGG Shares Purchased by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. boosted its stake in Graco Inc. (NYSE:GGG) by 154.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,341 shares of the industrial products company’s stock after acquiring an additional 39,031 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Graco were worth $5,466,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. PineStone Asset Management Inc. raised its stake in shares of Graco by 9.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 3,911,372 shares of the industrial products company’s stock valued at $336,261,000 after purchasing an additional 326,877 shares in the last quarter. Amundi increased its holdings in Graco by 12.6% in the second quarter. Amundi now owns 2,023,761 shares of the industrial products company’s stock valued at $179,083,000 after buying an additional 226,284 shares during the last quarter. Norges Bank acquired a new stake in Graco during the second quarter valued at approximately $170,661,000. First Trust Advisors LP lifted its holdings in Graco by 0.8% during the 2nd quarter. First Trust Advisors LP now owns 1,443,723 shares of the industrial products company’s stock worth $124,117,000 after buying an additional 11,924 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Graco by 12.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,337,457 shares of the industrial products company’s stock worth $111,691,000 after acquiring an additional 146,424 shares in the last quarter. 93.88% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GGG shares. Weiss Ratings cut Graco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. KeyCorp reissued a “sector weight” rating on shares of Graco in a report on Thursday, October 23rd. Finally, Robert W. Baird set a $89.00 price target on shares of Graco in a report on Friday, October 24th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $87.00.

Graco Stock Up 0.8%

Graco stock opened at $85.87 on Friday. Graco Inc. has a 52-week low of $72.06 and a 52-week high of $89.67. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 2.71 and a beta of 1.09. The firm has a 50-day moving average price of $82.47 and a two-hundred day moving average price of $84.00.

Graco (NYSE:GGG) last released its quarterly earnings results on Wednesday, October 22nd. The industrial products company reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Graco had a net margin of 22.72% and a return on equity of 18.89%. The business had revenue of $543.36 million for the quarter, compared to the consensus estimate of $563.07 million. During the same period last year, the firm posted $0.71 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. Research analysts expect that Graco Inc. will post 3.06 earnings per share for the current year.

Graco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Monday, January 19th will be given a dividend of $0.295 per share. This is a boost from Graco’s previous quarterly dividend of $0.28. The ex-dividend date is Friday, January 16th. This represents a $1.18 dividend on an annualized basis and a yield of 1.4%. Graco’s payout ratio is presently 40.27%.

Graco announced that its board has authorized a stock repurchase program on Friday, December 5th that authorizes the company to repurchase 15,000,000 shares. This repurchase authorization authorizes the industrial products company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

About Graco

Graco Inc is a leading manufacturer of fluid handling systems and components, headquartered in Minneapolis, Minnesota. Founded in 1926, the company has built a reputation for innovation in spray finishing, lubrication, and fluid management technologies. Graco’s solutions are designed to address the needs of paint and coatings applicators, general industry, and process fluids in a variety of end markets.

The company’s product portfolio includes airless and air-assisted spray equipment, pumps for oil and gas applications, industrial lubrication systems, and automated dispensing equipment.